La Union Es Progreso Group

Ofelia Margarita P. M. is 55 years old. She is a single abandoned mother with nine children. An entrepreneurial woman, she has a desire to succeed. She began selling condiments door-to-door. She later sold food close to the plaza San Agustín D. Cajas in Huancayo. Some disagreeable neighbors forced her to vacate the place. In response, in order to bring food to her children, she rented a small space close to the where she lived. Here she constructed a kiosk by hand where she now sells groceries. It is currently a small shop but she has a vision to make this into a large store. With the loan she will supply merchandise to her business for the Christmas season.

Additional Information

About EDAPROSPO

EDAPROSPO seeks to use micro-credit to foster productive commercial activity for the sake of economic and social development within vulnerable urban and rural sectors traditionally neglected by commercial banks. By offering innovative products such as technical education loans and microfinance groups for young people, EDAPROSPO helps disadvantaged Peruvians lift themselves out of poverty.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.